The pound is stronger against the euro this morning and is trading around the same levels against the dollar. This comes ahead of a busy week for economic data releases in the UK, as well as speeches from Bank of England officials.
This afternoon, Governor of the Bank of England, Andrew Bailey and other officials will speak in front of the Treasury Select Committee. The markets will be looking out for any signs about when interest rates may be hiked following the decision earlier this month to keep the rate the same.
Unemployment figures will be released for the UK tomorrow before consumer confidence and retail sales data on Friday. However, the most significant data release of the week will be on Wednesday when inflation figures will be released. If this comes in higher than predicted, this could increase expectations for a rate hike in the near future.
